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About Amar – Calgary Realtor

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Courtesy Of
Kimberley Holmen Of DIAMOND REALTY & ASSOCIATES LTD.

$199,000 - 984 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4282517

OPEN HOUSE SUNDAY, FEB. 2. 1P-4P. PRICED TO SELL! Bright and clean 2 storey townhouse offering 3 bedrooms, 1.5 bathrooms, an updated kitchen with newer countertops/backsplash, new dishwasher, updated bathrooms, as well as a good sized dining room and living room. Newer laminate flooring throughout both levels. Renovations were completed in 2017. Lower level with laundry and plenty of storage…
Active

Courtesy Of
Tom Healey Of RE/MAX REAL ESTATE (CENTRAL)

$325,000 - 1141 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4277767

This is an immaculate 3 bdrm bi-level on a large corner lot. Just freshly updated with new paint, light fixtures and floor refinishing. L shaped living and dining room with patio doors to south facing deck. 3 bathrooms including 2 pce ensuite and 3 piece down. Fireplace in family room down. There are 2 nearly completed bedrooms down. Brand new…
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Courtesy Of
Dave Hopkins Of MAXWELL CANYON CREEK

$569,900 - 1681 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4282891

Welcome to this beautifully updated 4 level split ideally located in popular west Haysboro. The main floor has hardwood floors throughout and features a spacious living room, with a wood burning fireplace, a functional dining room with built ins and an upgraded kitchen with island, tile back splash, skylight and custom pantry. The huge family room with gas fireplace, vaulted…
Active

Courtesy Of
Ashley Cole Sinclair Of SUTTON GROUP CANWEST

$179,800 - 907 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4282647

Welcome home to #3101, 403 MacKenzie Way SW, Airdrie, located at Creekside Village in the Downtown community of Airdrie. This extremely clean (and freshly painted) sought after CORNER UNIT is situated on the main floor of the building, making it the ideal location for apartment living. This fantastic property has over 900 sf and incorporates a smart layout with a…
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Courtesy Of
Dave Hogarth Of CENTURY 21 GATEWAY REAL ESTATE LTD.

$12 - 1524 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4281306

Located next door to Tim Hortons, Wendy's and Circle K, 1524 sq/ft of Retail/Office space along the busiest road in Olds. Two separate lease spaces available in the building. (See MLS C4281303) Lots of parking, front and back.
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Courtesy Of
Dave Hogarth Of CENTURY 21 GATEWAY REAL ESTATE LTD.

$12 - 1323 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4281303

Located next door to Tim Hortons, Wendy's and Circle K, 1323 sq/ft of Retail/Office space along the busiest road in Olds. Two separate lease spaces available in the building. (See MLS C4281306) Large parking lot front and back.
Active

Courtesy Of
Katt Gunter Of CIR REALTY

$379,900 - 1679 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4283031

Can you say "WOW"? This brand new home has UPGRADES galore! The main floor features a separate office, open concept dining and living area and mudroom with two closets! Love entertaining in your designer kitchen with white cabinets, quartz countertops and spacious island. Upstairs, the spacious master bedroom has a walk in closet and spa inspired five piece ensuite! An…
Active

Courtesy Of
LaRae Krebs Of RE/MAX LANDAN REAL ESTATE

$465,000 - 2453 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4282400

IMMACULATE condition! IMMEDIATE possession! LAKE PRIVILEGES! If you are looking to live in WESTSHORE ESTATES PRIVATE & GATED complex then you MUST SEE this home! Highlights include a separate living & dining room areas! A SPACIOUSLY BRIGHT & OPEN kitchen featuring an extensive use of Corian, an ABUNDANCE of CUPBOARDS & COUNTER SPACE. The kitchen's SUNNY breakfast nook overlooks the…
Active

Courtesy Of
Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$814,900 - 1938 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4282495

Surrounded by wide open prairie vistas is this custom country home on 2.03 acres in exclusive Sharp Hill on the outskirts of Airdrie's city limits. This charming farmhouse-inspired home offers over 1900sqft of comfortable living, awesome heated workshop & extensive improvements including roof, siding & triple-glazed windows. Mint condition, one-owner home with wonderful living room with vaulted ceilings & Brazilian…
Active

Courtesy Of
Nick Lima Of MAXWELL SOUTH STAR REALTY

$580,000 - 2150 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4282993

Amazing yard backing onto dog OFF-LEASH PARK. RENOVATED with permits & attention to detail. 32 LINEAR FEET OF CLOSET SPACE IN MASTER! You have the added benefit of selecting your own finishing. PICK YOUR OWN: granite or quartz in kitchen/bar, tile for backsplashes, flooring in basement and paint color in basement and main. There are samples of pre selected choices…
Active

Courtesy Of
Derek Timmons Of CIR REALTY

$509,990 - 2698 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4283018

If you are looking for your FOREVER home, you just found it! Welcome to the Bradford! This MASSIVE 4 bedroom 2.5 bathroom has features that are sure to make your jaw drop. As soon as you enter you walk into a gorgeous entry way with 14' ceilings and steps down to the basement. Come up the stairs to an incredible…
Active

Courtesy Of
Derek Timmons Of CIR REALTY

$444,990 - 2163 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4283016

Welcome to the Riedel!! This BRAND NEW 3 bed 2.5 bath home is the perfect move up home for any family. The features of this home are endless beginning with a beautiful family room with GAS FIREPLACE that you are greeted with upon entering. Behind that you have a stunning kitchen with QUARTZ counter tops, ceramic tile back splash, double…
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Courtesy Of
Ian Cooper Of RE/MAX REAL ESTATE (CENTRAL)

$579,900 - 1130 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4282824

Very contemporary 1130 sq. ft. bungalow on a huge 50X110 ft lot located in the close-in community of North Haven. 15 min to downtown, walk to the winter club, minutes to Nose Hill park and steps to transit. This home was designed and extensively renovated in 2006 with completely new wiring, plumbing fixtures and vaulted ceilings on the main floor…
Active

Courtesy Of
Cheryl Vanderwater Of CIR REALTY

$569,800 - 2205 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4280207

PREVIOUS STEPPER SHOW HOME, TRIPLE TANDEM GARAGE, backing onto green space. This exquisite home offers numerous upgrades & features; 9' ceilings, hardwood, custom window coverings, deck, unique coffered ceilings, wrought iron railings, stainless steel appliances, granite, built in locker storage, floor to ceiling tile gas fireplace & so much more. The main floor features a 2pc bath, spacious great room…
Active

Courtesy Of
Keiran Hughes Of RE/MAX FIRST

$1,395,000 - 3874 Sq.Ft

Beds
3
Baths
4.10

ACTIVE

Detached

MLS® #C4282963

Nestled in the private setting of Bragg Creek overlooking a natural fresh water pond with PRIVATE BEACH.This homes exquisite architecture is sure to impress.You are welcomed by it's grand entrance that leads to the main living area where you can cozy up next to the warm fireplace surrounded with river rock & enjoy nature's calming effects.The custom kitchen has ample…


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Canadian home sales inch lower in December

Canadian home sales inch lower in December

Ottawa, ON, January 15, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales eased between November and December 2019.

Highlights:

  • National home sales declined by 0.9% on a month-over-month (m-o-m) basis in December.
  • Actual (not seasonally adjusted) activity was up 22.7% year-over-year (y-o-y).
  • The number of newly listed properties dropped by a further 1.8% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 3.4% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 9.6% y-o-y.

Home sales recorded over Canadian MLS® Systems edged down 0.9% in December 2019, ending a streak of monthly gains that began last March. Activity is currently about 18% above the six-year low reached in February 2019 but ends the year about 7% below the heights recorded in 2016 and 2017.

There was an almost even split between the number of local markets where activity rose and those where it declined, with higher sales in the Lower Mainland of British Columbia, Calgary and Montreal offsetting declines in the Greater Toronto Area (GTA) and Ottawa.

Actual (not seasonally adjusted) activity was up 22.7% compared to a quiet month of December in 2018. Transactions surpassed year-ago levels across most of Canada, including all of the largest urban markets.

“Home price growth is picking up in housing markets where listings are in short supply,” said Jason Stephen, president of CREA. “Meanwhile, the mortgage stress-test continues to sideline potential home buyers where supply is ample. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“The momentum for home price gains picked up as last year came to a close,” said Gregory Klump, CREA’s Chief Economist. “If the recent past is prelude, then price trends in British Columbia, the GTA, Ottawa and Montreal look set to lift the national result this year, despite the continuation of a weak pricing environment among housing markets across the Prairie region.”

The number of newly listed homes slid a further 1.8% in December, leaving new supply close to its lowest level in a decade. December’s decline was driven mainly by fewer new listings in the GTA and Ottawa–the same markets most responsible for the decline in sales. Listings available for purchase are now running at a 12-year low. The number of housing markets with a shortage of listings is on the rise; should current trends persist, fewer available listings will likely increasingly weigh on sales activity.

With new listings having declined by more than sales, the national sales-to-new listings ratio further tightened to 66.9% in December 2019 – the highest reading since the spring of 2004. The long-term average for this measure of housing market balance is 53.7%. Barring an unforeseen change in recent trends for the balance between the supply and demand for homes, price gains appear poised to accelerate in 2020.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, just over half of all local markets were in balanced market territory in December 2019. That list still includes Greater Vancouver (GVA) but no longer includes the GTA, where market balance favours sellers in purchase negotiations. By contrast, an oversupply of homes relative to demand across much of Alberta and Saskatchewan means sales negotiations remain tilted in favour of buyers. Meanwhile, an ongoing shortage of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.2 months of inventory on a national basis at the end of December 2019 – the lowest level recorded since the summer of 2007. This measure of market balance has been falling further below its long-term average of 5.3 months. While still within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still within balanced market territory in British Columbia but is becoming increasingly tilted in favour of sellers.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8%, marking its seventh consecutive monthly gain. It is now up 4.7% from last year’s lowest point reached in May and has toppled all previous records in each of the past five months. (Chart B)

The MLS® HPI in December was up from the previous month in 14 of the 18 markets tracked by the index.

Home price trends have generally been stabilizing in the Prairies in recent months following lengthy declines but are clearly on the rise again in British Columbia and in Ontario’s the Greater Golden Horseshoe (GGH). Further east, price growth in Ottawa and Montreal has been ongoing for some time and strengthened toward the end of 2019.

Comparing home prices to year-ago levels yields considerable variations across the country, although for the most part has been regionally split along east/west lines, with declines in the Lower Mainland and major Prairie markets and gains in central and eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) rose 3.4% y-o-y in December 2019, the biggest year-over-year gain since March 2018.

Home prices in Greater Vancouver (-3.1%) and the Fraser Valley (-2%) remain below year-ago levels, but declines are shrinking. Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+4.2%), Victoria (+2.3%) and elsewhere on Vancouver Island (+4.2%).

Calgary, Edmonton and Saskatoon posted y-o-y price declines of around -1% to -2%, while the gap has widened to -4.6% in Regina.

In Ontario, home price growth has re-accelerated well above consumer price inflation across most of the GGH. Meanwhile, price gains in recent years have continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis. One-storey single-family home prices posted the biggest increase (3.6%) followed closely by apartment units (3.4%) and two-storey single family homes (3.3%). Townhouse/row unit prices climbed a slightly more modest 2.7% compared to December 2018.

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by
changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in December 2019 was around $517,000, up 9.6% from the same month the previous year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $117,000 from the national average price, trimming it to around $400,000 and reducing the y-o-y gain to 6.7%.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

< Back to Newsroom

Canadian home sales edge higher in November

Canadian home sales edge higher in November

Ottawa, ON, December 16, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued to edge higher in November 2019.

Highlights:

  • National home sales rose 0.6% month-over-month (m-o-m) basis in November.
  • Actual (not seasonally adjusted) activity was up 11.3% year-over-year (y-o-y).
  • The number of newly listed properties dropped by 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 2.6% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 8.4% y-o-y.

Home sales recorded via Canadian MLS® Systems inched up by 0.6% November 2019. Notching its ninth straight monthly gain, activity stands 20% above the six-year low reached in February 2019 but 6% to 7% below heights recorded in 2016 and 2017.

There was an almost even split between the number of local markets where activity rose and those where it declined. Higher sales across much of British Columbia and in the Greater Toronto Area (GTA) offset a decline in activity in Calgary.

Actual (not seasonally adjusted) activity was up 11.3% year-over-year in November. Transactions surpassed year-ago levels in almost all of Canada’s largest urban markets.

“Sales continue to improve in some regions and not so much in others,” said Jason Stephen, president of CREA. “The mortgage stress-test doesn’t help relieve the ongoing shortage of housing in markets where sales have improved, and it continues to hammer housing demand in markets with ample supply. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“Home prices look set to continue rising in housing markets where sales are recovering amid an ongoing shortage of supply,” said Gregory Klump, CREA’s Chief Economist. “By the same token, home prices will likely continue trending lower in places where there’s a significant overhang of supply, perpetuated in part by the B-20 mortgage stress-test that continues to sideline homebuyers there.”

The number of newly listed homes slid a further 2.7%, putting them among the lowest levels posted in the past decade. November’s decline was driven primarily by fewer new listings in the GTA.

Slightly higher sales and a drop in new listings further tightened the national sales-to-new listings ratio to 66.3%, which is well above the long-term average of 53.7%. If current trends continue, the balance between supply and demand makes further home price gains likely.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, just over half of all local markets were in balanced market territory in November. That list includes the GTA and Lower Mainland of British Columbia, but market balance there is tightening. By contrast, an oversupply of homes relative to demand across much of Alberta and Saskatchewan means sales negotiations remain tilted in favour of buyers.

Meanwhile, an ongoing shortage of supply of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations. The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were just 4.2 months of inventory on a national basis at the end of November 2019 – the lowest level recorded since the summer of 2007. This measure of market balance has been retreating further below its long-term average of 5.3 months. While still just within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still within balanced market territory in the Lower Mainland of British Columbia but is becoming increasingly tilted in favour of sellers.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8%. Marking its sixth consecutive monthly gain, it now stands almost 4% above its low point reached last May.

The MLS® HPI in November was up from the previous month in 14 of the 18 markets tracked by the index.

Home price trends have generally been stabilizing in the Prairies in recent months.

While that remains the case in Calgary, Edmonton and Saskatoon, prices in Regina have again moved lower. By contrast, home price trends have clearly started to recover in the Lower Mainland of British Columbia. Meanwhile, prices continue to rebound in the Greater Golden Horseshoe (GGH) region while continuing to trend higher in housing markets to the east of it.

Comparing home prices to year-ago levels yields considerable variations across the country, with a mix of gains and declines in western Canada together with price gains in eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) was up 2.6% y-o-y in November 2019, the biggest year-over-year gain since March 2018.

Home prices in Greater Vancouver (-4.6%) and the Fraser Valley (-2.9%) remain below year-ago levels but declines are shrinking. Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+1.4%), Victoria (+1.5%) and elsewhere on Vancouver Island (+2.8%).

Calgary, Edmonton and Saskatoon posted price declines of around -2% y-o-y, while the gap widened to-5.5% y-o-y in Regina.

In Ontario, price growth has re-accelerated well ahead of overall consumer price inflation across most of the GGH. Meanwhile, price growth in recent years has continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis. Two-storey single-family home prices posted the biggest increase, rising 2.8% y-o-y. Price gains were almost as strong for apartment units (+2.6% y-o-y) and one-storey single family homes (+2.5% y o y), while townhouse/row prices climbed a more modest 1.5% compared to November 2018.

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in November 2019 was around $529,000, up 8.4% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $125,000 from the national average price, trimming it to around $404,000 and reducing the year-over-year gain to 6.9%.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

< Back to Newsroom

Canadian home sales hold steady in October

Canadian home sales hold steady in October

Ottawa, ON, November 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were unchanged from September to October 2019.

Highlights:

  • National home sales held steady on a month-over-month (m-o-m) basis in October.
  • Actual (not seasonally adjusted) activity was up 12.9% year-over-year (y-o-y).
  • The number of newly listed properties declined by 1.8% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.6% m-o-m and 1.8% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 5.8% y-o-y.

Home sales recorded via Canadian MLS® Systems remained steady in October 2019 following a string of monthly increases that began in March. Activity is now almost 20% above the six-year low reached in February 2019 but remains 7% below heights reached in 2016 and 2017. (Chart A)

There was an almost even split between the number of local markets where activity rose and those where it declined. Higher sales in Greater Vancouver (GVA), the neighbouring Fraser Valley and Ottawa offset a monthly decline in activity in the Greater Toronto Area (GTA)—particularly in Central Toronto—and Hamilton-Burlington.

Actual (not seasonally adjusted) activity rose 12.9% year-over-year. Transactions were up from year-ago levels in 80% of all local markets in October, including all of Canada’s largest urban markets.

“Steady national activity in October hides how the mortgage stress-test remains a drag on many local housing markets where the balance between supply and demand favours homebuyers in purchase negotiations,” said Jason Stephen, president of CREA. “That said, all real estate is local, so market balance varies depending on location, housing type, and price segment. Nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“It’s a full-blown buyer’s market or on the cusp of one in a number of housing markets across the Prairies and in Newfoundland,” said Gregory Klump, CREA’s Chief Economist. “Homebuyers there have the upper hand in purchase negotiations and the mortgage stress-test has contributed to that by reducing the number of competing buyers who can qualify for mortgage financing while market conditions are in their favour.”

The number of newly listed homes fell by 1.8% in October, with the GTA and Ottawa posting the largest declines. Almost a third of all housing markets posted a monthly decline of at least 5%, while about a fifth of all markets posted a monthly increase of at least 5%.

Steady sales and fewer new listings further tightened the national sales-to-new listings ratio to 63.7%. This measure has been increasingly rising above its long-term average of 53.6%. Its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers; however, the national measure continues to mask significant regional variations.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, just over two-thirds of all local markets were in balanced market territory in October 2019, including the GTA and Lower Mainland of British Columbia. Nonetheless, sales negotiations remain tilted in favour of buyers in housing markets located in Alberta, Saskatchewan and Newfoundland & Labrador.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.4 months of inventory on a national basis at the end of October 2019—the lowest level recorded since April 2017. This measure of market balance has been retreating further below its long-term average of 5.3 months. While still within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well

below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still well centred within balanced market territory in the Lower Mainland of British Columbia.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.6%, marking its fifth consecutive monthly gain. (Chart B)

Seasonally adjusted MLS® HPI readings in October were up from the previous month in 14 of the 18 markets tracked by the index. (Table 1)

Recently, home price trends have generally been stabilizing in the Lower Mainland and the Prairies. While that remains the case in Calgary and Saskatoon, home prices in Edmonton and Regina have moved lower. By contrast, home price trends have started to recover in the GVA and the neighbouring Fraser Valley.

Meanwhile, price growth continues to rebound in the Greater Golden Horseshoe (GGH). In markets further east, price growth has been trending higher for the last three or four years.

Comparing home prices to year-ago levels yields considerable variations across the country, with mostly declines in western Canada and mostly price gains in eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) was up 1.8% y-o-y in October 2019, the biggest year-over-year gain since November 2018.

Home prices in the GVA (-6.4%) and the Fraser Valley (-4.2%) are still below year-ago levels, although declines are becoming smaller.

Elsewhere in British Columbia, home prices logged y-o-y increases on Vancouver Island and in the Okanagan Valley (3.1% and 2%, respectively) while having edged marginally higher in Victoria (0.5% y-o-y).

Calgary, Edmonton and Saskatoon posted price declines in the range of -1.5% to -2.5% on a y-o-y basis in October, while the gap between this year and last year widened sharply to -6.8% in Regina.

In Ontario, price growth has re-accelerated well ahead of overall consumer price inflation across most of the GGH. Meanwhile, price growth in recent years has continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index remained in positive y-o-y territory in October 2019. Two-storey single-family home prices were up most, rising 2.5% y-o-y. One-storey single family home prices rose 1.4% y-o-y, while townhouse/row and apartment units climbed by 1% and 1.2%, respectively.

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in October 2019 was around $525,000, up 5.8% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $125,000 from the national average price, trimming it to around $400,000 and reducing the year-over-year gain to 4.7%.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

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